Ericsson (ERIC) to Post Q3 2016 Earnings of $0.03 Per Share, Credit Agricole SA Forecasts
Ericsson (NASDAQ:ERIC) – Investment analysts at Credit Agricole SA lowered their Q3 2016 EPS estimates for shares of Ericsson in a research note issued on Thursday. Credit Agricole SA analyst A. Silver now expects that the brokerage will earn $0.03 per share for the quarter, down from their previous forecast of $0.11. Credit Agricole SA also issued estimates for Ericsson’s FY2016 earnings at $0.34 EPS, FY2017 earnings at $0.37 EPS and FY2018 earnings at $0.41 EPS.
Several other analysts have also weighed in on ERIC. BNP Paribas reaffirmed a “hold” rating on shares of Ericsson in a research note on Saturday. BMO Capital Markets reiterated a “hold” rating and issued a $7.00 target price on shares of Ericsson in a research report on Monday, July 25th. Canaccord Genuity reiterated a “hold” rating and issued a $5.50 target price (down from $7.00) on shares of Ericsson in a research report on Thursday, October 13th. Goldman Sachs Group Inc. upgraded Ericsson from a “sell” rating to a “neutral” rating in a research report on Tuesday, June 21st. Finally, Argus reiterated a “hold” rating on shares of Ericsson in a research report on Thursday, October 13th. Three analysts have rated the stock with a sell rating, eighteen have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $8.21.
Ericsson (NASDAQ:ERIC) opened at 5.47 on Monday. Ericsson has a 12 month low of $5.35 and a 12 month high of $10.56. The firm has a market capitalization of $17.84 billion, a price-to-earnings ratio of 11.35 and a beta of 0.92. The company has a 50 day moving average price of $6.78 and a 200 day moving average price of $7.61.
Ericsson (NASDAQ:ERIC) last issued its quarterly earnings data on Tuesday, July 19th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.02. Ericsson had a net margin of 5.70% and a return on equity of 13.14%.
Large investors have recently made changes to their positions in the stock. Primecap Management Co. CA boosted its stake in shares of Ericsson by 4.1% in the second quarter. Primecap Management Co. CA now owns 81,505,704 shares of the company’s stock worth $625,964,000 after buying an additional 3,247,500 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Ericsson by 44.2% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 40,979,684 shares of the company’s stock worth $314,724,000 after buying an additional 12,562,156 shares during the period. Cambiar Investors LLC boosted its stake in shares of Ericsson by 10.7% in the second quarter. Cambiar Investors LLC now owns 18,024,576 shares of the company’s stock worth $138,429,000 after buying an additional 1,746,391 shares during the period. Brandes Investment Partners LP boosted its position in shares of Ericsson by 32.6% in the second quarter. Brandes Investment Partners LP now owns 10,329,065 shares of the company’s stock valued at $79,327,000 after buying an additional 2,541,781 shares during the last quarter. Finally, Dodge & Cox boosted its position in shares of Ericsson by 3.3% in the second quarter. Dodge & Cox now owns 2,216,336 shares of the company’s stock valued at $17,021,000 after buying an additional 70,150 shares during the last quarter. 7.29% of the stock is owned by hedge funds and other institutional investors.
Telefonaktiebolaget LM Ericsson is a Sweden-based telecommunications operator. The Company offers hardware, software and services that drive development in mobility, broadband and the cloud, creating ecosystems across various industries. Ericsson’s core businesses are Radio, Core and Transmission, and Telecom Services.
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